The crypto community has been buzzing with excitement as Kasikorn invests $103 million into Thai crypto exchange Satang while Ethereum (ETH) and the trending BTC fork, Bitcoin Spark (BTCS), move up.
What is a Crypto exchange?
A cryptocurrency exchange is an online platform that facilitates the buying, selling, and trading of cryptocurrencies. These digital marketplaces serve as intermediaries, matching buyers and sellers and providing a secure environment for conducting transactions. They come in various forms, including centralized exchanges (CEXs), which are operated by a central authority, and decentralized exchanges (DEXs), which operate on blockchain technology. Crypto exchanges play a pivotal role, enabling individuals and institutions to participate in the growing digital asset market.
Kasikornbank (KBank), Thailand’s second-largest lender by assets, recently invested $103 million for a 97% stake in the local cryptocurrency exchange, Satang. Aside from its main crypto exchange services, Satang runs businesses such as Satang Technology, which provides blockchain services, and Satang Space, which is involved in space-related enterprises. Following this acquisition, Satang will rebrand to Orbix Trade Company Limited and will be restructured into three distinct divisions: Orbix Custodian, which will focus on secure custody services; Orbix Invest, serving as the venture arm, and Orbix Technology, dedicated to blockchain development.
ETH price prediction
The Ethereum (ETH) price has remained well above the $1,750 support zone since its bullish move that began on October 22. ETH is trading above $1,780 and the 100-hourly Simple Moving Average. There is a key bullish trend line forming with support near $1,795 on the hourly chart of ETH/USD, and analysts suggest the pair could continue to move up if it clears the $1,825 and $1,850 resistance levels.
Bitcoin Spark
Bitcoin Spark has gained the attention of crypto enthusiasts as it’s not just another Bitcoin network clone. While it does share Bitcoin’s scarcity factor by having a capped supply of 21 million, this Bitcoin fork has many novel features and technologies poised to solve its predecessor’s limitations and usher in a new generation of crypto transactions.
The Bitcoin Spark blockchain assures faster and more cost-efficient transactions by having an optimized block time, an expanded node network, and enhanced individual transaction block transaction capabilities. The blockchain is also built with a layered architecture, bolstering its scalability and versatility. The design features a dedicated smart contract layer with multiple execution systems that reach singular finality on the main network, allowing for the use of multiple programming languages. Bitcoin Spark thus positions itself as a robust platform capable of supporting diverse smart contracts and decentralized applications (dApps).
Bitcoin Spark also introduces an innovative consensus mechanism known as the Proof-of-Process (PoP), which rewards miners for confirming blocks and contributing processing power to the network. The system, however, exponentially reduces rewards per additional processing power. This feature, combined with the massive network nodes, will make BTCS mining accessible even to low-powered devices. In fact, the Bitcoin Spark application will enable users with Android, iOS, Windows, Mac OS, and Linux devices to participate in the process seamlessly.
Notably, the Bitcoin Spark network will enable institutions and individuals to efficiently utilize the contributed processing power for remote computing in exchange for BTCS. 3% of the revenue earned will go to the team for income and development, with the rest distributed among miners, who also receive minted BTCS and transaction fees from confirmed blocks. Interestingly, the BTCS minting rewards will operate on an elastic system that factors in the revenue generated within the network. This means that if more revenue is generated, BTCS minting is reduced proportionally, extending the minting endpoint. In addition to the innovative CPU/GPU rental service, the Bitcoin Spark ecosystem is set to include supplementary services, such as unobtrusive community-policed advertising on its application and website, further enhancing the potential for earnings within the network.
The BTCS price recently surged from $1.50 to $3.50 as it entered the second-last phase of its Initial Coin Offering (ICO). Importantly, the network and its development team have undergone multiple security audits, demonstrating a steadfast commitment to security and reliability. Bitcoin Spark (BTCS) will launch at $10 on November 30th, and analysts believe that given the positive sentiment in the crypto market, this BTC fork has the potential for continued price appreciation even after its launch.
For more information on Bitcoin Spark:
Website: https://bitcoinspark.org/
Buy BTCS: https://network.bitcoinspark.org/register
Disclaimer
Please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. CryptoMode is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.
